Indian Bank revises interest rates

By: | Published: April 3, 2017 4:21 PM

For deposits of two years and above, but less than three years, the interest rates were fixed at 2.62 per cent from the current 2.57 per cent.

Public sector Indian Bank has revised its interest rates on foreign currency non-resident (banking) term deposits. (Reuters)

Public sector Indian Bank has revised its interest rates on foreign currency non-resident (banking) term deposits with immediate effect. For FCNR(B) deposits, in USD terms, the revised interest rate has been fixed at 2.40 per cent for deposits of one year and above, but less than two years from 2.33 per cent.

For deposits of two years and above, but less than three years, the interest rates were fixed at 2.62 per cent from the current 2.57 per cent. Interest rates were revised to 2.88 per cent for deposits of three years and above, but less than four years from the existing 2.78 per cent.

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For deposits of four years and above but less than five years, the interest rates were revised to 3.01 per cent from current 2.92 per cent. Interest rates for deposits of upto five years were fixed at 3.11 per cent from current 3.05 per cent, the statement added.

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